The investment will be used for site clearance, infrastructure development and expenditures to host the event, according to a plan the city sent to the Prime Minister and the Ministry of Culture, Sports and Tourism on January 8. The organization of the regional sporting event will help raise the stature and prestige of the city, which is a political, economic and cultural center of the country, the municipal government said.

Notably, the city will invest nearly VND2 trillion in large projects including Phan Dinh Phung Sports Center where a press center and a television center will be located, and where gymnastics and billiards-snooker competitions and SEA Games 31 closing ceremony will be held. The project, which will be developed under build-transfer (BT) format, will be commenced early this year for completion by the end of 2020.

Another large project is to develop Rach Chiec sports complex in District 2 which will require an investment of more than VND8 trillion.

To ensure sufficient funding for site clearance, the city will divide the project into small components, thus making investment in each of them more affordable. The city will also complete a roofed stadium with a minimum capacity of 50,000 seats, athletics tracks and an area where athletes can warm up before competitions.

The city government has allowed investors to develop the stadium with a total cost of VND3.1 trillion. The stadium is expected for completion in the first quarter of 2021.

HCMC authorities will pool the investment from the city’s budget for development investments, private sources, regular expenditures in the 2016-2021 period and the State budget.